CHAPTER 3 Marital Settlement Agreement eement
One of the most productive methods for couples to move forward with a divorce and on with their lives is to disconnect emotionally and handle the sale of the home in a businesslike manner. Because the marital home is usually the greatest asset in a marriage, it is also the greatest liability. You must give a lot of serious thought to securing settlement terms that protect both parties, especially the spouse who is departing the home. When you enter into your marital settlement agreement, your lawyer should specify who is financially responsible for the mortgage, the homeowners insurance, utilities, and upkeep of the marital home. If the spouse occupying the marital home is responsible for listing, showing, and selling the home, the other spouse may be obligated to pay part or all of the mortgage, as well as contribute to the upkeep of the home. If the occupying spouse shows little effort in getting the house sold, the marital agreement should provide a timetable for the sale of the home. I have several templates I have designed and tested to accommodate a variety of situations, depending on urgency. Always check with your attorney and be sure to loop me in so I can work directly with them to determine which gameplan will best to move forward with, based upon their recommendations and your goals. It is important for the marital agreement to include provisions outlining the steps to be taken if the house cannot be sold within a specified time or if one spouse fails to meet any financial obligations. Obviously there will be scenarios where it is advantageous for one party to try and delay or expedite the sale, and it is my priority to ensure that this process is carried out in a way that will cause as little friction as possible both for you and 20
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